On 21 October 2019, The Chartered Institute of Management Accountants® (CIMA) organised the third edition of its University Management Accounting Day 2019 (UMAD 2019) at the best universities for economics in Poland. This year, for the first time, they were also joined by universities in Central and Eastern Europe (CEE).
UMAD – a celebration of the management accounting profession – takes place every October, just in time for the arrival of new students and the opening of the CIMA and University Program registration process.
It helps to connect academics, students and employers and is a perfect way to educate CIMA’s prospective students about the future of finance, the updated CIMA Professional Qualification and the enhanced CGMA Competency Framework.
This year, Karen Phang, Associate Director at the Association of International Certified Professional Accountants, the unified voice of CIMA and the American Institute of CPAs (AICPA), delivered the event’s keynote speech on the importance of the collaboration between CIMA and universities across the world.
Students had also a chance to learn about cybersecurity and business risk management in the digital age. Experts delivered lectures across the various UMAD CEE 2019 locations.
After the lecture students had the opportunity to test their knowledge through the CIMA cybersecurity quiz.
Later in the day, students participated in the CIMA Business Game. Through this interactive competition, students from Poland, Czechia, Slovakia, Bulgaria, Romania and Hungary worked in teams on a business case study and find solutions to business problems.
Each team leader then presented his team’s work to a jury made of university lecturers and experts. Teams were assessed based on a range of criteria including understanding of the issue, quality of their argument, clarity of their recommendation, time management, team collaboration, confidence and interaction with the audience.
Over 70 teams from 14 universities across 6 countries took part in the competition and CIMA awarded 200 prizes to members of the winning team from each university.
“It is great to see how the integration of the CIMA syllabus into the management accounting course has provided students with the relevant skillset to thoroughly analyse a business case and present different scenarios” commented Bruce Gahir, Associate Head of the School of Business at Prague College, Czechia.
“Connecting live with all Central Eastern Europe Universities and running the CIMA Business Game was a great idea because students saw CIMA’s global reach with their own eyes. They had a chance to realise that their counterparts from Universities of Economics across the CEE region will be competing for the same jobs at the best international companies,” said Dr. Aleksandra Ferens at University of Economics in Katowice, Poland.
At the end of the day, students attended the Ask the CIMA Ambassador session where CIMA Ambassadors answered all CIMA-related questions on exams, fees and future career prospects.
Pictures from the event:
On 30 May 2019, at the premises of the Ministry of Science and Higher Education, an event entitled ‘Constitution for Science in Poland and Reinventing Finance in a Digital World: Employability, Education and Partnership’ was held. The event was organised by the Ministry and the Chartered Institute of Management Accountants (CIMA) – the world’s leading and largest professional body of management accountants.
The meeting was attended by eight Polish economic universities, in which CIMA and University Program was launched, and six best economic universities from Central and Eastern Europe: Ukraine, Slovakia, Czechia, Romania, Bulgaria and Hungary. To participate
in this event representatives of global companies whose headquarters are located in voivodships represented by each Polish university were also invited.
The event was aimed at developing good practices in cooperation between academic and business communities. One of its main assumptions was to enable participants to get the latest information on the changing needs of employers concerning knowledge and skills gained by economic studies graduates. It was also important to show what kind of challenges universities around the world face in the times of digital transformation and how they tackle them creating modern study programs and introducing new models of education.
The meeting begun with the speech by Andrzej Stanisławek, Secretary of State at the Ministry of Science and Higher Education, who talked about the reform of higher education in Poland and the importance of aligning university curriculum with international employers’ needs.
– The Constitution for Science changes the system of higher education thoroughly. It focuses on the quality of education and research, internationalisation of Polish universities, as well as greater degree of cooperation between the socio-economic environment and the academic community. The reform introduces a new advisory body at universities – University Councils in which representatives of universities’ environment also sit. Entrepreneurs, experts, local activists will influence university's strategy, – states Deputy Minister of science Andrzej Stanisławek. – However, this is not the end of the ministry’s undertakings to combine the needs of employers and business with the offer of science and higher education. We support dual studies, we have introduced new form of implementation doctorates. We also plan to launch a digital platform that will facilitate contact between science and business. Thanks to this, we enable intensive exchange of knowledge between researches, academics and entrepreneurs, – he adds.
Subsequent speeches were given by CIMA representatives: Karen Phang CPA, FCMA, CGMA, Associate Director – Academic Engagement; Jakub Bejnarowicz, Associate Director, Europe; Shane Balzan FCMA, CGMA, Senior Director, Curriculum Development; and Dr Yvonne Hinson CPA, CGMA, Academic in Residence.
The final official part of the event was a panel discussion with employers entitled ‘Employability, Education and Partnership’, moderated by Shane Balzan. It was attended by senior finance professionals and Chartered Global Management Accountants (CGMA designation holders), who talked about the profile of graduates of economic faculties and the skills finance specialists should have in the world of robotics and automation.
– In accordance with the title ‘Employbility, Education and Partnership’ we have managed today to create a platform for discussion between the Ministry, the academic and business communities. We are very grateful to the Ministry of Science and Higher Education for the joint organisation of this truly international event, during which not only the universities’ voice and different perspectives of global companies were presented, but also new methods of education and best practices from Great Britain, the United States and Malaysia, – says Jakub Bejnarowicz, Associate Director, Europe, CIMA.
One of the examples of modernising universities’ offer is adjusting study programs to a level that allows obtaining professional certificates such as CIMA Diploma in Management Accounting as part of CIMA & University Program. This provides students with the opportunity to gain knowledge, confirmed by global CIMA exams, which responds to the needs of international employers. Some Polish universities are now at a stage of establishing dedicated teams for the unification of their study programs with CIMA syllabus.
Previous successful academic discourses have been organised last year by CIMA in Johannesburg, Delhi, Jakarta and Lagos. Poland was chosen among European countries in which CIMA operates due to the exemplary cooperation of Polish universities with global employers. The formula of the meeting in Warsaw was enriched with a new element – roundtable talks during which university, business and CIMA representatives took part in a professional business game. The conclusions will serve as a basis of a report entitled "Employability, Education & Partnership in CEE Region", prepared by Associate Professor Bartłomiej Nita from the University of Economics in Wrocław and Associate Professor Remigiusz Napiecek from the University of Economics and Business in Poznań.
Meeting international universities at the Ministry of Science and Higher Education was also a great opportunity to celebrate 100 years of leading the management accounting profession worldwide by CIMA. Founded in 1919, it had its 100th birthday on 8 March 2019. – Building on our 100 years heritage, we embrace our future. As CIMA looks to the next 100 years it can do so with confidence, knowing it has the benefits of this combined strength, a truly global standard with the Chartered Global Management Accountant (CGMA) designation, and the means to provide the world’s most highly-skilled accountants with knowledge, insight and foresight to meet the demands of a rapidly changing world – adds Jakub Bejnarowicz.
In January 2019, CIMA announced updated CIMA Professional Qualification adapted to the requirements of the future of finance, updated CGMA Competency Framework covering topics including digital skills, blockchain technology and cybersecurity, and Digital Mindset professional development course that will give finance professionals the resources they need to thrive in the digital age. This improved set of competences is considered the most sought-after and up-to-date in the field of management accounting, which is one of the most dynamically developing area of business consulting and whose specialists play an increasingly important role in their organizations.
The following universities and companies took part in the ‘Constitution of Science in Poland and Reinventing Finance in a Digital World: Employability, Education & Partnership’ event organized by the Ministry of Science and Higher Education and CIMA:
· Warsaw School of Economics
· University of Economics in Katowice
· University of Economics in Cracow
· University of Economics and Business in Poznan
· University of Economics in Wroclaw
· Kozminski University
· Lodz University
· University of Gdansk
· University of Economics in Bratislava
· The University of National and World Economy
· Budapest Metropolitan University
· Taras Shevchenko National University of Kyiv
· Bucharest University of Economic Studies
· Infosys BPM
· Mazars Polska
· Alexander Mann Solutions
· Hewlett Packard Enterprise
· DC Minerals part of Group De Cloedt
On October 23, 2018, Kozminski University and the CIMA Management Accounting Institute (as part of the CIMA Program at ALK) organized the University Management Accounting Day (UMAD 2018).
During UMAD 2018, students of the best Polish universities in Poland were able to learn more about practical aspects of management accounting because in addition to the lecture given by Tomasz Iwanowicz, PhD: "Control and performance evaluation in practice - real time analysis and data visualization". Representatives of CIMA from Great Britain came to Poland: Shane Balzan, Senior Director, Curriculum Development; Jane O'Rourke, Associate Director, Curriculum Development and Dough Withington, Lead Manager, Curriculum Development, who talked to students about the future of finance.
The UMAD 2018 participants learned about the upcoming changes in the financial industry, issues related to the CIMA curriculum and updating the syllabus to adapt it to the changing business reality around the world. Employers recognize the changes that drives the development of new technologies and the progressing automation of financial positions, which in the near future may lead to the gradual dying out of individual professions. That is why CIMA meets with companies regularly, meets them by updating its syllabus and helps its students better understand new solutions, processes and technological innovations that affect the world of finance. - We want professionals in CIMA certification to keep up with changes and have the opportunity to work (including well-paid positions) in enterprises around the world - says Jakub Bejnarowicz, Regional Director for Europe, Association of International Certified Professional Accountants.
We hope that the next events organized by CIMA in cooperation with the Kozminski University will enjoy similarly high interest from students and high school students (especially those from different cities in Poland taking part in the High School Business Challenge). It is such international meetings that can show young people that thanks to motivation and hard work and professional certificates one can distinguish themselves in the labor market and find a dreamed, well-paid job.
On the 6th of June, 2018 the CIMA Tutor Session took place at Kozminski University. The meeting was conducted by Astrid Zakrzewska FCCA, FCMA, CGMA for academic staff of universities which run the CIMA Programs.
The aim of the meeting was to discuss the content of CIMA syllabus and present CIMA qualification standards. The emphasis was put on presenting the syllabus from the operational level which is based on three areas:
The operational level finishes with the exam checking the implementation of knowledge in real business situations - Operational Case Study. In this way CIMA exams if the academic knowledge is implemented correctly by students in real cases.
At the end of the workshop lecturers expressed large approval for the knowledge of the tutor and her skills in presenting difficult issues using practical, and real-life cases. All participants admitted that preparing students for the Operational Case Study Exam is a huge challenge.
According to Małgorzata Kucharczyk, PhD, the Coordinator of CIMA Program at Kozminski University: „CIMA Tutor Session is a valuable initiative conducted within the CIMA Program at Universities, which was appreciated by lecturers. I hope there will be more workshops like this in the future.”
On December 7, 2017 one of the most important CIMA events took place - the Gala Awards. During the ceremony, the people who achieved the highest results from each session were awarded.
The most important members of CIMA also took part in the gala. Our University was represented by Małgorzata Kucharczyk, PhD - the program's coordinator.
On October 27, 2017 there was a meeting organized as part of the University Management Accounting Day at Kozminski University. The meeting was arranged in cooperation with CIMA. The aim of this meeting was to demonstrate KU students present dilemmas and challenges which management accounting faces.
Professor Bartlomiej Nowak, the Vice-Rector for Economic and Social Studies, opened the meeting. The professor presented briefly the importance of management accounting in running an organisation. Moreover, he pointed out possibilities of professional development in this area.
The first speaker was Mr. Aleksander Solski ACMA, CGMA, VP Finance CEE, Unilever Poland. Mr. Solski made a speech „Management accounting in business: good technique + a scientific mind - is it enough” . Thanks to this speech students had a chance to get acquainted with current challenges people who manage large organisations face. Moreover, students could get to know the supporting role of management accounting to people making the decisions. Mr. Solski also discussed the growing importance of non-financial indicators in analyses used in management accounting.
The speech of Aleksander Solski truly interested our students. They asked about issues connected with modern tools of management accounting. Students wanted to know in which areas of operating an entity, management accounting tools are used. Furthermore, students were curious why and how professionals refer to soft management and analytical skills.
Mr. Jakub Bejnarowicz, Associate Director, Central and Easter Europe, CIMA, delivered a speech after the lecture of Mr. Aleksander Solski. Mr. Bejnarowicz got students acquainted with the way CIMA operates and how it certifies knowledge and skills of its students. Mr Bejnarowicz also stressed the fact that the learning process never ends. Moreover, he presented how CIMA supports professional development of its members. Mr. Bejnarowicz also pointed out the process of changes in the content of CIMA's syllabuses. These changes are connected with the cooperation between CIMA and professionals who deal with management accounting.
Mrs. Iwona Cieślak gave a speech after a short break. She made a speech about „Accounting in a managerial perspective. From human assets to financial income” . Mrs Cieślak engaged students during her lecture into a discussion concerning the identification of critical success factors.
At the end of the meeting, during the informal part, students talked with Mrs. Sylwia Dubiel, who is Associate Manager, University Partnerships, CEE - Management Accounting, CIMA. KU Students had a chance to talk about the common program run by CIMA and KU - CIMA Program at KU.
We would like to thank all the participants and speakers for attending this event.
Lecturers of Kozminski University took part in the National Assembly of Accounting Faculties "Accounting 2.0. Contemporary problems in science, didactics and practice of accounting".
During the Convention there was a meeting organized by CIMA - CIMA Tutor Session. During the meeting, issues related to CIMA certification levels, examinations conducted at Pearson Vue Centers were discussed.
Our lecturers not only took an active part in the training meeting but also talked about the CIMA program with representatives of other universities in Poland.
We would like to invite you to the University Management Accounting Day with CIMA!
Do you dream about a future in business? Then this is the place for you to be.
Check out the schedule below!
10:15 AM - 10:25 AM The opening of the event by Vice-Rector Bartłomiej Nowak
10:25 AM - 11:15 AM "Rachunkowość zarządcza w biznesie: dobra technika + ścisły umysł - czy to wystarczy?" Aleksander Solski ACMA, CGMA, VP Finance CEE, Unilever Poland
11:15 AM - 11:45 AM Jakub Bajnarowicz, Associate Director, CEE, CIMA
11:45 AM - 12:00 PM The CIMA program at KU
Małgorzata Kucharczyk, Ph.D, The coordinator of the CIMA program
12:00 PM - 12:15 PM Coffee break
12:15 PM - 1:00 PM "Rachunkowość w aspekcie zarządczym. Od kapitału ludzkiego do wyników finansowych" Iwona Cieślak, Ph.D
1:00 PM - 2:00 PM Ask the Ambassador, Aleksandra Hoppe the program's ambassador will be there to answer all your questions concerning CIMA.
Where? ROOM D/304
When? OCTOBER 27, 2017(FRIDAY) at 10:15 AM
The agreement signed between Kozminski University and the Chartered Institute of Management Accountants (CIMA) will help our students obtain an international management accounting diploma.
Thanks to the agreement signed between Kozminski University and the Chartered Institute of Management Accountants (CIMA) based in London, students of Finance and Accounting program at our University will have the opportunity to obtain an international management accounting diploma.
- Studies of Finance and Accounting have the opportunity to acquire knowledge and skills that are global, - says Dr. Małgorzata Kucharczyk, coordinator of CIMA program at KU. - The world of finance and accounting is now striving for standardization, both in the area of financial accounting and management. For example, International Accounting Standards (IAS) are used almost everywhere in the world, currently in more than 120 countries. If you want to work in global or international organizations and deal with finances, you should get to know the financial accounting and management accounting. The participation of our students of Finance and Accounting program with the CIMA program is a chance to gain international diplomas awarded by CIMA and for an interesting, attractive and developmental work not only in Poland but also abroad.
Prof. Witold Bielecki, the KU Rector and Mr Jakub Bejnarowicz, Associate Director, Central and Eastern Europe - Management Accounting, AICPA
The importance of management accounting in economic processes is growing. That is why knowledge of rules, principles and tools of management accounting is so important. Knowledge of management accounting now is not only a beneficial, but also a necessity. Knowledge and skills in accounting can and should be confirmed. Not only a prestigious university diploma, but also international certification awarded by organizations whose diplomas certify professional qualifications in finance and accounting and are recognized everywhere in the world.